This property owner is breakeven at current prices and speculating on future price increases. In fact, it sounds like his current net worth may be zero. How many are in his position? -vreaa
Here is nico101 at RE Talks 2010 2:05 am -
“I have a house right by Commercial Drive. It’s currently rented and brings in $3850/month which after factoring in mortgage, taxes, repairs, insurance, etc, just barely covers costs, believe it or not. Here’s the thing… My intention was never to be a landlord, it just sort of happened and I’m finding the whole landlord thing to be a serious PITA. I could probably sell now and just break even after realtor fees, mortgage payoff penalty, etc. My gut tells me to wait and let the market grow. In a perfect world I’d love to wait short-term (1yr or so) and then sell at a slight profit to pay off some other debts.”
